Posted
by
Soulskillon Wednesday April 30, 2014 @08:13AM
from the everyone's-equal-once-they-invest-a-billion-dollars dept.

Hugh Pickens DOT Com writes "Reuters reports that U.S. Securities and Exchange Commission Chair Mary Jo White told a U.S. House of Representatives panel that she flatly rejected claims that retail investors are being fleeced by high-frequency traders who can use their speed to jump ahead with buy and sell orders that fetch better prices. 'The markets are not rigged,' says White. 'The U.S. markets are the strongest and most reliable in the world.' White's comments to the House Financial Services Committee mark the first time she has directly responded to allegations in Michael Lewis' new book Flash Boys: A Wall Street Revolt. The book alleges that high-speed traders are engaged in a form of front-running, in which the firms are able to quickly identify an investor's desire to buy a stock, rush to buy it first and then sell it back at a higher price. The SEC has been reviewing equity market structure issues, particularly following the May 6, 2010 flash crash incident when the Dow Jones Industrial Average sharply plunged before quickly rebounding. Although staff at SEC are considering whether to launch some pilot studies to test different regulatory proposals, there are no immediate plans to issue rules to crack down on high-speed trading or trading in unlit markets. 'I want to be very clear that the market metrics suggest that the retail investor is very well-served by the current market structure.'"

Posted
by
Soulskillon Tuesday April 29, 2014 @03:50PM
from the can-you-hear-me-now dept.

New submitter freddieb writes: "An individual who had been jamming cellphone traffic on interstate 4 in Florida was located by FCC agents with the assistance of Hillsborough County Sheriff's Deputies. The individual had reportedly been jamming cellphone traffic on I-4 for two years. The FCC is now proposing a $48,000 fine for his actions. They say the jamming 'could and may have had disastrous consequences by precluding the use of cell phones to reach life-saving 9-1-1 services provided by police, ambulance, and fire departments.'"

Posted
by
Unknown Lameron Wednesday April 23, 2014 @09:33AM
from the someone-said-you-were-a-sinner dept.

An anonymous reader writes "On Tuesday, the U.S. Supreme Court ruled that police officers are legally allowed to stop and search vehicles based solely on anonymous 911 tips. Justice Clarence Thomas, writing for the majority opinion, reasoned that 'a 911 call has some features that allow for identifying and tracking callers' as well as for recording their calls, both of which he believed gave anonymous callers enough reliability for police officers to act on their tips with reasonable suspicion against the people being reported.

The specific case before them involved an anonymous woman who called 911 to report a driver who forced her off the road. She gave the driver's license plate number and the make and model of his car as well as the location of the incident in question. Police officers later found him, pulled him over, smelled marijuana, and searched his car. They found 30 pounds of weed and subsequently arrested the driver. The driver later challenged the constitutionality of the arrest, claiming that a tip from an anonymous source was unreliable and therefore failed to meet the criteria of reasonable suspicion, which would have justified the stop and search. Five of the nine justices disagreed with him."
The ruling itself (PDF).

Posted
by
Soulskillon Friday November 15, 2013 @03:30PM
from the everybody's-an-above-average-driver dept.

Hugh Pickens DOT Com writes "Kim Gittleson reports at BBC that car insurance firms like Progressive are trying to convince consumers that letting them monitor their driving behavior is actually a good thing. They say that the future of car insurance is not just being able to monitor individual drivers to give them lower prices, but also to make them better drivers. 'Now that we can observe directly how people drive, we think this will change the way insurance works,' says Dave Pratt, who says that Progressive has more than a trillion seconds of driving data from 1.6 million customers. '18-year-old guys pay a lot for insurance, but some 18-year-olds are really safe drivers and they deserve a better deal.' Better big data technologies, like the telematic driving data collected by car companies (PDF) or even information gathered from social media profiles, can help augment that risk profile. 'If I'm a driver that doesn't drive that frequently, and I have a pattern that would indicate that I drive more carefully than an average person with my profile, then I may be able to save 30-40% on my car insurance, and that's pretty significant,' says Joe Reifel. For now, using big data analytics for insurers is still in the early stages. Only 2% of the U.S. car insurance market offers an insurance product based on monitoring driving, but that proportion is projected to grow to around 10-15% of the market by 2017. And other countries, like Italy and the U.K., are already using the data to analyze not just risk profiles but also to determine who is at fault in car accidents. The future, most analysts agree is create a continuous feedback loop between insurers and consumers, so that consumers will react to the big data analyses that insurers perform and change their behavior accordingly. 'Bad drivers will at some point need to improve their driving or accept [having] to pay for the real risk they represent,' says Jacques Amselem."

Posted
by
Unknown Lameron Wednesday September 25, 2013 @09:31AM
from the amazon-probably-patented-this dept.

cagraham writes "Facebook has teamed up with payment processors PayPal, Braintree, and Stripe, in an attempt to simplify mobile payments. The system allows Facebook members (who have turned over their credit and billing info) to click a 'Autofill with Facebook' button when checking-out on a mobile app. Facebook will then verify the details, and securely transfer a user's info over to the payment processing company. The move is likely aimed at gathering more data on user behavior, which can be used to increase the prices Facebook charges for mobile ads. Whether or not the feature takes off however, will depend almost entirely on how willing users are to trust Facebook with their credit card data."

Posted
by
Soulskillon Friday September 20, 2013 @06:45PM
from the south-carolina-would-be-a-more-understandable-target dept.

Freshly Exhumed sends in a story about how close the United States came to accidentally attacking itself with nuclear weapons just a few days after John F. Kennedy took office.
"A secret document, published in declassified form for the first time by the Guardian today, reveals that the U.S. Air Force came dramatically close to detonating an atom bomb over North Carolina that would have been 260 times more powerful than the device that devastated Hiroshima. The document, obtained by the investigative journalist Eric Schlosser under the Freedom of Information Act, gives the first conclusive evidence that the US was narrowly spared a disaster of monumental proportions when two Mark 39 hydrogen bombs were accidentally dropped over Goldsboro, North Carolina on 23 January 1961. The bombs fell to earth after a B-52 bomber broke up in mid-air, and one of the devices behaved precisely as a nuclear weapon was designed to behave in warfare: its parachute opened, its trigger mechanisms engaged, and only one low-voltage switch prevented untold carnage."

Posted
by
Soulskillon Friday September 20, 2013 @11:42AM
from the first-step-is-admitting-you-have-a-problem dept.

Nerval's Lobster writes "During an executive Q&A at Microsoft's Financial Analyst Meeting on Sept. 19 (video), outgoing CEO Steve Ballmer admitted that Windows Phone had a minuscule share of the smartphone market, and expressed regret over his company's inability to capitalize on burgeoning interest in mobile devices. 'I regret that there was a period in the early 2000s when we were so focused on what we had to do around Windows that we weren't able to redeploy talent to the new device called the phone,' Ballmer told the audience of Wall Street analysts and investors. 'That is the thing I regret the most.' Back in 2007, Ballmer famously denigrated the first-generation iPhone as an expensive toy that would fail to gain significant market share. He was forced to eat his words after the iPhone became a bestseller and ignited a huge market for touch-screen smartphones. Google subsequently plunged into that smartphone arena with Android, which was soon adopted by a variety of hardware manufacturers. While the iPhone (running iOS) and Android carved up the new market between them, Microsoft tried to come up with its own mobile strategy. The result was Windows Phone, which (despite considerable investment on Microsoft's part) continues to lag well behind Android and iOS in the smartphone wars. Even as he focused on discussing Microsoft's financials, Ballmer also couldn't resist taking some swipes at Google, suggesting that the search-engine giant's practices are 'worthy of discussion with competition authority.' Given Microsoft's own rocky history with federal regulators, that's sort of like the pot calling the kettle black; but Ballmer's statement also hints at how, in this new tech environment, Microsoft is very much the underdog when it comes to some of the most popular and lucrative product segments."